Bitcoin (BTC) rebound on Friday from its daily dip under $ 115,000, back to the familiar range it was trading in the last two weeks.
The largest crypto recently changed hands of $ 117,200, still 1.2% down over the last 24 hours.
Some analysts noticed that the dip was coincided with Asset Manager Galaxy, who moved a large amount of BTC to exchanges overnight, probably related to Bitcoin Whale, who sent about $ 9 billion worth BTC to commercial tables this month. The wallets held BTC since the first years of Bitcoin’s history, transferred the assets after sleeping for more than a decade.
Later on Friday, Galaxy confirmed that it ended the sale of all 80,000 BTC on behalf of a client, designating it as “one of the largest nominal Bitcoin transactions in Crypto’s history.”
The sale was part of the investor’s real estate planning strategy, the company said.
With the sales pressure from the whale now, some analysts predicted that the lows could be in or close.
John Glover, Chief Investment Officer for Crypto lender Ledn, said BTC could put in a local bottom on Friday or over the weekend before continuing his push for new items, according to his Eliot Wave analysis.
“When I’m completed (either today or over the weekend), I expect we will end Wave III by collecting about $ 132,000,” Glover said in a market note.
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